The Malaysian economy is expected to strengthen further up to 5.6 per cent in the second half of 2013 on rapid growth through domestic demand fortified by various economic programmes implementations.
For the full year, real gross domestic product (GDP) growth was projected to sustain at 5.1 per cent in 2013, after picking up to 5.6 per cent in 2012, according to Economic Outlook Report by RHB Research.
The house report showed that the first quarter is not favorable but its only temporary.
Business activities were also expected to pick up slowly with the current control of the government, it would likely be that economic growth will show up in the second quarter of 2013. Consumer spending and investment will also be looking at a steady trend but will most likely to see a hike in second half of 2013.
Public consumption and investment will hold up most likely on the second period, and although inflation set to trend up but will remain manageable this year according to the house studies.
RHB Research said Bank Negara Malaysia would likely tolerate slightly higher inflationary pressure given the challenging external economic environment and keep its overnight policy rate stable at 3.0 per cent for the rest of the year.
The study also revealed that despite facing challenges, the global economy seems to be siding on to the nation's export externally where demands could hike up towards end of 2013.
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